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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Capital to advise
Reuters world's largest international multimedia news agency reported that, Indonesian diversified company PT Delta Dunia Petroindo Tbk said on Thursday it has reached an agreement to buy a coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA) for $550 million.
The owners of BUMA had put the company up for sale in May to private equity firms in Asia after failing to sell it in late 2007, sources familiar with the deal said
Mining services companies are struggling with costs amid slowing growth and slumping metal prices, making them ripe for takeovers, industry analysts said.
The sale was in line with a strategy "to increase shareholder value, and to grow revenue through a new mining and contractor platform, leveraging the ripe coal market opportunities in Indonesia," the firm said in a statement.
The firm said the transaction should be completed in the fourth quarter 2009, subject to obtaining shareholder and regulatory approval.
Newspaper Bisnis Indonesia has reported that local private equity group Northstar Pacific had purchased BUMA and that it could be listed through a backdoor listing after the purchase.
Gunawan Angkawibawa, a director at Delta Dunia, declined to comment on whether Northstar Pacific had a role in BUMA's purchase.
Delta Dunia has appointed Barclays Capital to advise on arranging the financing related to the acquisition.
Indonesia, the world's top thermal coal exporter, is expected to produce about 240 million tonnes of coal this year, slightly up from 238 million tonnes last year.
Source:Reuters
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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Wood Mackenzie - Singapore
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- Kalimantan Lumbung Energi - Indonesia
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- Coal and Oil Company - UAE
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- Sindya Power Generating Company Private Ltd
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- Ind-Barath Power Infra Limited - India
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- Xindia Steels Limited - India
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- MS Steel International - UAE
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- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
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- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- PTC India Limited - India
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- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
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- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
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- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
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- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
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- Altura Mining Limited, Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
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- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
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- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
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- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
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- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
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- IHS Mccloskey Coal Group - USA
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- Sakthi Sugars Limited - India
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- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
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